Energy

The oil and gas and the power and utilities industries are continually subjected to fluctuating prices and these are industries where long-term planning is the only effective route to success. This sector has to manage large operations effectively. This involves controlling costs, improving controls and managing risks. The requirements for medium to longer term investment also have to be continually re-assessed.

To complicate matters, regulations have always been complex in this sector and, apart from the usual financial reporting requirements, records must now be kept of energy policy goals, climate change and emissions targets, price and tariff requirements and a range of minimum service obligations. This sector more than any other is also subjected to demands for change and the power companies are involved in a constant search for cleaner and more sustainable energy.

These industries operate in demanding conditions and whilst the rewards are known to be handsome, the risk inherent in these operations should never be underestimated.

In this respect, TGS can offer industry-specialised expertise in both regulatory and accountancy compliance. TGS can also carry out risk assessments, internal audit planning and operational audits for standalone energy projects and joint ventures.

By maintaining long-standing relationships with clients, TGS member firms have developed a comprehensive understanding of the issues affecting the oil and gas, mining and renewable energy industries.

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